1795 $10 13 Leaves AU58 PCGS. Breen-6830, B. 4-B,
Taraszka-5, R.5. Despite its status as the nation's gold monetary
unit, the eagle enjoyed less popularity within financial circles
than the smaller half eagle. This disparity was evident since the
introduction of both denominations in 1795. As the half eagle had a
similar value to foreign gold coins of the period, the Philadelphia
Mint concentrated its earliest gold coinage efforts on that
denomination. When the government finally initiated eagle
production on September 22, 1795, only 5,583 1795-dated pieces were
produced between that date and March 30, 1796. In stark contrast,
the Mint's initial delivery of 8,707 half eagles was achieved in a
much shorter time frame between July 31 and September 16, 1795.
Regardless of its limited appeal to banks and merchants, the size
of the eagle made it an impressive coin. As a result, curious
American citizens saved many examples as first-year souvenirs, but
numismatic scholars stress that fewer than 3% of the original
mintage survives today in all levels of preservation.
The typical 1795 eagle in today's numismatic marketplace is apt to
grade no higher than XF40; many have suffered from damage or
cleaning. The current specimen, however, displays enough remaining
definition to fit comfortably within the AU58 grade tier. Both
sides are uniformly reflective and display the modest prooflike
finish that typifies the issue with subtle green-gold patina over
each side. The die lump in the reverse field between OF and AMERICA
is diagnostic of this scarcer variety. Both the obverse and the
reverse are free of unduly bothersome circulation impairments.
Curiously problem-free for an early gold coin, this lightly worn
example would do justice to any advanced collection.From The Manistee Collection.(Registry
values: P5) (NGC ID# 25ZT, PCGS# 8551)